Supreme Court Declines to Decide on Interest for Bank of America Escrow Accounts, Highlights Federal-State Law Conflicts
In Cantero v. Bank of America, the US Supreme Court declined to decide whether Bank of America Corporation must pay interest on New York mortgage borrowers’ escrow accounts. The case, regardless of whether it returns to the high court, continues to highlight unresolved issues involving conflicting state and federal laws. Divergent regulatory frameworks at federal…